Coal City, Grundy County, Illinois Property Taxes

Name: Property Tax Bills Across Coal City, Grundy County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median COAL CITY, IL effective property tax rate: 2.38%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median COAL CITY, IL home value: $146,964
Median annual COAL CITY, IL tax bill: $3,426, $1,026 higher than the national median property tax bill of $2,400.

How are property taxes in Grundy calculated?

Property taxes in COAL CITY, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding COAL CITY’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in COAL CITY, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Coal City, Grundy County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.38%

Estimate Property Tax Bill

$3,498

$3,246

Ownwell’s Coal City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Coal City with just two data points.

By entering your property's estimated assessed value, our calculator applies Coal City’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Grundy County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Coal City, Grundy County, Illinois

Local government entities set tax rates, which can vary significantly within a state. Each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process. In Coal City, located in Grundy County, IL, the effective property tax rate is 2.38%. This rate is notably higher compared to the national median property tax rate of 1.02%. When examining the property tax landscape across Illinois, Coal City stands out for having one of the highest median property tax rates in the state. This is a crucial consideration for property owners in the area, as it directly impacts the annual property tax bill. Property owners in Coal City should be aware of how these rates compare to both the state and national medians, as it can significantly affect their financial planning.

Property Tax Rates Across Coal City, Grundy County, Illinois

Source: Ownwell

1.70%

2.45%

3.20%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Coal City Tax Rate

2.38%

Median Effective Grundy County Tax Rate

2.61%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Coal City, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60416	1.89%	2.38%	2.38%	2.45%	2.45%

Source: Ownwell

Property Tax Assessment Values Across Coal City, Grundy County, Illinois

When examining property taxes in Coal City, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Grundy County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Grundy County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Coal City.

For example, the median home price in Coal City is $146,964, with tax bills ranging significantly across the county. Zip code 60416 has the highest median home price at $146,964.

Property Tax Assessment Values Across Coal City, Grundy County, Illinois

Source: Ownwell

$52,952

$138,277

$223,602

Median Coal City Market Value

$146,964

Median Grundy County Market Value

$145,632

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Coal City, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60416	$61,532	$105,267	$146,964	$200,925	$295,285

Source: Ownwell

Property Tax Bills Across Coal City, Grundy County, Illinois

In Coal City, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the tax bill. In Grundy County, where Coal City is located, the median property tax bill is $3,426, significantly higher than the national median of $2,400. The tax bill can vary widely, with the 25th percentile at $2,497 and the 90th percentile reaching $6,568. Factors influencing these variations include the home's assessed value and any applicable exemptions. High property taxes can be a burden for homeowners, impacting their financial planning. This is where Ownwell steps in. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially lower their tax bills. Our team reviews assessments for accuracy, identifies opportunities for exemptions, and files appeals on behalf of homeowners, aiming to reduce the financial strain of property taxes and ensure fair taxation.

Property Tax Bills Across Coal City, Grundy County, Illinois

Source: Ownwell

$1,077

$3,591

$6,104

Median Coal City Tax Bill

$3,426

Median Grundy County Tax Bill

$3,869

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Coal City, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60416	$1,472	$2,497	$3,426	$4,636	$6,568

Source: Ownwell